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SHORT SALE SECRET.....shhhh

Tuesday, May 08, 2007 @ 11:05 AM EDT Printer Friendly Page  Printer Friendly Page
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Contributed by: thorncore

thorncore Properties

Read more archived articles about Foreclosures

If you are currently working the foreclosure short sale market, there is a part of the short sale process when your deal is most important.

Where a deal will "fly or die" is in the BPO. If you are not there or the agent only does an exterior, you can probably kiss that
 
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deal goodbye.

Although the agent doing the BPO is an unbiased 3rd party, it's imperative you are there anyway. Let them know you are helping the seller and tell them about the situation the seller is in.

Have low comparables printed and an estimate of repair for the agent. They are not required to use the information you provide, yet you stand a much better chance at getting the value range that you are after to make that deal FLY.



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sale know short kiss bpo. process foreclosure them stand doing estimate better chance when required imperative helping printed "fly fly. only information about agent. tell part much will anyway. after range agent die" there market, deal currently provide, party, does probably situation comparables unbiased most working repair seller make value it's exterior, goodbye. although they secret.....shhhh getting important. where have

 
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Re: SHORT SALE SECRET.....shhhh (Score: 1)
by TheShortSalePro on Tuesday, May 08, 2007 @ 11:55 AM EDT

You assume the agent performing the BPO is an unbiased 3rd party. You can't be too sure!

Typically, several BPO's are performed during the delinquency/default/foreclosure process.

One prime reason brokers and brokers' agents perform BPO is to position themselves for REO assignments.

If the mortgagee perceives greater value from one Broker over another... that (inflating) broker is more likely to be awarded a BPO assignment.[ No Comments Allowed for Anonymous, please register ]




Re: SHORT SALE SECRET.....shhhh (Score: 1)
by LOSSMITCRUSHER on Thursday, March 06, 2008 @ 06:46 PM EST

Is this stil the case in 2008? [ No Comments Allowed for Anonymous, please register ]




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